1945

The Chilean economy evolved very satisfactorily during 1988, favoured by a substantial improvement in the terms of trade and by the advances achieved during the preceding years in restoring the basic macroeconomic equilibria. The gross domestic product grew by more than 7%, the unemployment rate went down for the sixth year in a row, inflation was reduced to less than 13%, and real wages increased by nearly 7%. At the same time, exports grew by more than 30%, the deficit on the current account was reduced to less than a third of the previous level, international reserves equivalent to two months of imports were accumulated, and the external debt diminished.

Related Subject(s): Economic and Social Development
Countries: Chile
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